Let All Seasons Real Estate, Inc assist you with buying your new home in Covina
Buying a home is stressful for a lot of people, but with a bit of planning ahead of time, it isn't all that difficult.
I like to supply buyers with an overview of the whole deal so they know exactly what they can expect.
These are my nine steps to purchasing a home.
When you're ready to get started, just contact me here or e-mail me at . I'm happy to answer questions you have about this information.
Step 1 – Prepare to purchase
There are many things you'll want to do before you start searching for a home.
You'll probably want to put together an outline of must-have features, plan for what school districts you'd like to live in, and begin working on your budget.
Keeping your mortgage payment less than a third of your net monthly income is a good principle to adhere to.
Step 2 – Connect with a real estate agent
That's where I come in.
We can schedule a time to meet so we can talk about your real estate needs and get an idea of your future plans.
We'll talk about neighborhoods, schools in the Covina area, the mortgage and housing industries, and any additional economic factors that could affect your buying decision today or in the future.
I'll also help you start the loan process.
There are some very good mortgage professionals in Covina, and I partner with a lot of them, so you'll be in great hands.
They can assist you with deciding which type of loan is best for you and help you get qualified.
Step 3 – Begin house hunting
After we meet, I'll start finding houses on the market that suit your needs.
I'll get a sneak peek of most of the houses and ignore the duds, and then we'll schedule appointments to view the homes when it's convenient for you.
When we tour homes, I'll identify positive features and negative ones. And I'll ask you to tell us about things you like and don't like.
It's common for buyers to amend their wish list as we view houses and some items become far more substantial than others.
If that happens, I'll search all the listings again and trim it down to the house you've been waiting for.
Step 4 – Comprehend the market
My awareness of the Covina market is an essential aspect in your house search. I'm familiar with all the school districts and neighborhoods, and I will let you know some neighborhoods are "hot" and warrant prompt action and others that are "cool" and allow for thoughtful analysis.
When we tour homes, I'll make sure to communicate if the asking price has room for bargaining or if I believe the home is "priced to sell."
Be careful and be sure to ask your agent plenty of questions, as every REALTOR will tell you they know the housing market.
If things don't add up, just call me at (626) 339-0697 or e-mail me at , and I'd be happy to answer your questions. My market knowledge will keep you a step ahead through the entire process.
Step 5 – Find the house you've been looking for
We'll find the house of your dreams in Covina, and when we do, I'll meticulously develop your purchase offer. The offer will be made to fit your needs and the home. We'll include a lot of contingencies, such as obtaining financing, completing the home inspection, and a clean title.
When we present your purchase offer, you'll likely need to present "earnest money." This is a cash deposit submitted to the seller to secure the offer to purchase the property, and it's most often put towards the closing costs. If the offer is accepted, we should close on the property within 30 to 60 days after. This allows sufficient time for your mortgage financing.
Step 6 – Negotiate
A lot of contracts don't close on the first offer – it's extremely common to receive a counter offer. Don't let this alarm you. We'll figure out whether or not to agree to the counter offer, propose our own counter offer, or decline the seller's offer and go on.
Market conditions will play a large role in how aggressively we negotiate the contract.
We'll also work within your financing budget. And when it's all said and done, we'll formulate a contract that is best for you.
Step 7 – Get your loan
Once the deal is finished, you'll begin working with your lender to close the loan.
It won't take very long at all if you're already pre-approved, but you'll want to keep in close contact with your mortgage lender.
And I'll handle all the property information your mortgage lender will need to close the loan.
Step 8 – Close the deal
You'll get a Loan Estimate (LE) detailing your closing costs from your mortgage lender within three days of receiving your loan application.
The estimate rests on the loan amount, and RESPA requirements require that it has to include all closing costs and be within a close range of accuracy. I'll study the estimate and let you know if everything looks adequate.
Then we'll close on your house. This should occur at a title company or escrow office and should be a smooth and peaceful event.
Step 9 – Move in
Congratulations! It's time to move into your new house. Enjoy it. And if you have any questions, simply call me at (626) 339-0697 or e-mail me at .